THRIVING 109 COVER RESTAURANT WITH ON PREMISE 1AM LICENSE ST KILDA - VIC
BUSINESS Detail
BUSINESS DESCRIPTION
Boston Brokers is delighted to welcome to the market this well-established and popular contemporary restaurant business, which is ideally located in St Kilda.
The business created by our client in 2012 and is only now being offered to the market due to our clients desire to concentrate on other business interests. The venue operates 6 days per week and according to the FY 2015/2016 accounts, generates a turnover in the region of $1,380,900 per annum, with good gross profit.
Our client offers a wide variety of high quality classic fare, which is all freshly prepared using the finest locally, sourced produce. The fully licensed restaurant and bar also offers a variety of beverages including wines, cocktails, craft beers and artisan coffees.
The property boasts a spacious bar area, a relaxed open dining area, a stylish sophisticated restaurant, a full commercial kitchen and a wash-up area. The premises are extremely well maintained and decorated to a meticulously high standard. Our client, ensuring the business has the highest quality fixtures and fittings, has spent approximately $600,000.00 on the venue.
In the short time the business has been open it has built up an enviable reputation within the area and further afield, for the high quality of their food and services offered, which has resulted in a ongoing loyal client base with a substantial repeat trade and word of mouth recommendations.
The restaurant boasts excellent reviews and ratings on the popular food websites, write-ups in culinary magazines and amongst locals. Our client is more than happy for a new owner to retain the business name.
There is certainly scope to increase the turnover by extending the opening hours. A new owner could also embark on a modest marketing campaign to highlight the excellent food and service offered. The business already has a very informative website in place to promote the restaurant, which offers online booking facilities.
This is a rare opportunity to acquire a popular restaurant business, which is beautifully presented and in a prime trading position; therefore early viewing must come highly recommended to avoid disappointment. Perfect for the restaurant entrepreneur or an investment group.
TENURE
We are advised that the leasehold is as follows:
5+5+5+5 (commencing 03/2011)
Current rent $129,000.00 (3.5% increases)
Bond: 3 months
Carpark: 1 vehicle plus storage cage
HOURS
Tuesday – Thursday & Saturday – 5pm to Late
Friday & Sunday – 12pm to Late
STAFF
The business is managed with the assistance 5 full time and 7 part time members of staff.
